Literature Review on What Is Strategy BY khem123 Introduction: Strategy and management is one of the prominent and most discussed topic in the organization and business studies. Organizations today are challenged by many factors both internal and external and need to effectively address such, which makes only possible by the organization effective leader and their strategic view to overcome and take their company into profitable, competitive, innovative and change.
Further, the shift of organization from being local onto global and so the factors of ross-cultural, internationalization cross-disciplinary knowledge of geo-economy, politics, business, market, volatile competition, wide range of customer, and other globalization factors brings further complexity and encounters, hence urgency of more robust leadership, strategy and creative approaches is at forefront than anytime in the history; to struggle and compete this dynamic challenges.
In the Michael Porter (1996) literature What is strategy; one of the concept of the organization strategy can be understood as being “different” from the competitors nd so with the different end outcome and added value to the organization as a long- term advantages. It means that, an industry or organization could be operated in a different way than it’s competitor, which will allow to achieve long-term value creation. In other words; strategy can be understood as, what are the organization unique positions in order to achieve organizational effectiveness, and competitive advantages at the end of the day.
The author argues that; strategy can significantly be divided in a wider way of doing things. As a competitive way of thinking, industry has its own-target area and ways of doing the business, for example; defined vision and goals, particular business activities, objectives, niche customer, differentiated product or service, market segments, key technological drivers, different approach on marketing, and so forth. Also each company has its own rivals, key market presences and targeted economic outcome.
However, every company is seeking for the unique ideas and plans to stay in the market for the longer period, to achieve strong conomy and become one of the competitive in its industry frame. This will help to achieve greater value to the industry. The basic notion of the strategy here is; it is a set of systematically planned actions that takes time out for a particular purpose on, how companies are going to be unique, achieve competitive advantages and sustain over longer span of time.
This is the core essence of organization strategy. Strategy in relation to operational effectiveness; it is important to be stay ahead from the competitor and aggressively gain the efficiencies. However; competitor may act uickly with such manner to stay long term in the market. An organization may have chosen different area to stay in frontier from the rivals and putting more effort and superior performance to achieve goals.
Such as deliver value to customers, comparable value at lower cost, creating activities to produce, sell and deliver of product and service, training employees, calling to customer, assembling final products etc. ; hence, the value created by these activities will help organization to lead than the rivals, and so company can performance better than its counter